Summary of Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Accounting Policies [Abstract] |
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| Schedule of Dilutive Securities Excluded from Computation of Loss Per Share |
The following outstanding potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to common stockholders because their impact under the treasury stock method was anti-dilutive for the periods presented:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Stock options issued and outstanding under the 2015 Equity Incentive Plan and the 2021 Equity Incentive Plan |
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85,886 |
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1,005,795 |
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96,012 |
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4,273,819 |
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Restricted stock units issued under the 2021 Equity Incentive Plan |
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180,823 |
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359,735 |
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717,077 |
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348,793 |
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Stock issuable in offering period under the 2021 Employee Stock Purchase Plan |
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83,433 |
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148,877 |
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112,959 |
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158,785 |
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| Schedule of Revenue from Contracts with Customers |
For the three and six months ended June 30, 2026 and 2025, revenue from contracts with customers consisted of the following (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Product sales: |
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LDD (including training) |
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$ |
1,341 |
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$ |
5,134 |
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$ |
3,692 |
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$ |
14,524 |
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LAL |
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24,497 |
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27,006 |
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51,534 |
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54,192 |
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Service warranty, service contracts, and accessories |
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1,403 |
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1,497 |
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2,908 |
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2,815 |
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Total product sales |
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27,241 |
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33,637 |
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58,134 |
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71,531 |
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License and collaboration revenue |
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6,500 |
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— |
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6,500 |
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— |
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Total contract revenue |
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6,500 |
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— |
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6,500 |
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— |
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Total revenue |
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$ |
33,741 |
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$ |
33,637 |
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$ |
64,634 |
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$ |
71,531 |
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| Schedule of Deferred Revenue Activity |
The following table represents the contract liabilities from sales activity for the six months ended June 30, 2026 and 2025, respectively (in thousands):
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Six Months Ended June 30, |
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2026 |
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2025 |
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Deferred revenue from product sales |
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Balance at beginning of period |
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$ |
3,521 |
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$ |
2,994 |
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Additions during the period |
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2,713 |
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2,772 |
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Revenue recognized during the period |
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(2,852 |
) |
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(2,504 |
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Balance at end of period (1) |
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3,382 |
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3,262 |
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Deferred collaboration revenue |
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3,500 |
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— |
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Total deferred revenue |
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$ |
6,882 |
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$ |
3,262 |
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(1)
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